hope6's Commentaries
Jul
29
2010
Singapore Stock Market Updates On 29/07/10
by hope6
Overall Rating:
STI opens flat for today after the first dip from overnight US stock market since it had been rallying for the past four days. We do expect market to be choppy for the next few days since it near important resistance of 3000. Please practice small risk trading or avoid trading for the time being and wait for a clean break through of 3000. Please be mindful of high created on 15th April of 3037.
Till now, we are bullish.
Market close 2997.65, up 12.27 points with 1.4023 bln traded
News update :
- Boeing affirms 2010 outlook as quarterly net, revenue drop on lower commercial deliveries
- U.S. orders for durable goods unexpectedly weaken, down 1% for June
- Crude futures sink near $76, off nearly 2%, as U.S. reports big inventories increase
- U.S. stocks start out on a flattish note; latest earnings weighed against data
- U.S. economy expanding at slower rate, job market improving slightly: Beige Book.
- Symantec shares down 8% late after security-software maker's forecast disappoints.
Stock Picks for the day :
Hong Kong Land enter 5.45 SL 5.26
PEC enter 0.89 SL 0.835
Olam enter 2.80 SL 2.69
Raffles Medical enter 1.98 SL 1.86
Tat Hong enter 1.02 SL 0.945
AsiaTravel enter 0.515 Sl 0.465
Market close 2997.65, up 12.27 points with 1.4023 bln traded
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